The shortage of skilled manpower is a major challenge for the real estate sector in India.
The real estate sector in India is facing a major challenge due to the shortage of skilled manpower. This shortage is being felt across all levels of the sector, from construction workers to engineers and architects.
The rapid growth of the real estate sector in recent years has led to an increased demand for skilled workers. The Indian real estate sector has been growing rapidly in recent years, with the demand for housing and commercial space outpacing supply. This has led to a shortage of skilled workers, as the industry has not been able to train and deploy workers fast enough to meet the demand. The aging workforce in the construction sector is another factor contributing to the shortage of skilled manpower. The construction sector is a labor-intensive industry, and many of the workers in the sector are nearing retirement age. As these workers retire, they are not being replaced by a younger workforce with the same level of skills.
The lack of adequate training facilities for construction workers is another reason for the shortage of skilled manpower. There are not enough training facilities in India that can provide the skills required in the construction sector. This is a major problem, as it makes it difficult for young people to enter the construction industry and acquire the skills that they need to be successful.
The poor working conditions in the construction sector are a major deterrent to young people entering the industry. Construction workers often work long hours in dangerous conditions, and they are often paid low wages. This makes it difficult to attract and retain skilled workers in the construction sector.
In addition to these factors, several other challenges are contributing to the shortage of skilled manpower in the real estate sector in India. These include:
Read More: Real Estate: 59 Land Deals for Over 2,018 Acres Closed In India So Far This Year; Delhi, Mumbai Lead
- The lack of a national skills framework for the construction sector.
- The lack of coordination between the government, the industry, and educational institutions.
- The low priority that is given to skills development in India.
The shortage of skilled manpower is a major challenge for the real estate sector in India. If the sector is to continue to grow and thrive, the government and the industry must take steps to address this challenge. Here are some specific actions that the government and the industry can take to address the shortage of skilled manpower in the real estate sector:
- Develop a national skills framework for the construction sector.
- Create a more coordinated approach to skills development between the government, the industry, and educational institutions.
- Give skills development a higher priority in India.
- Provide financial assistance to training institutes to set up new courses and upgrade existing ones.
- Provide scholarships to students who enroll in construction-related courses.
- Improve the working conditions in the construction sector to make it more attractive to workers.
- Promote the construction sector as a career option for young people.
By taking these steps, the government and the industry can help to address the shortage of skilled manpower in the real estate sector and ensure that the sector continues to grow and thrive. The Vishwakarma Yojana, announced by Prime Minister Narendra Modi on the occasion of the 77th Independence Day, is a government initiative aimed at addressing the shortage of skilled manpower in the construction sector. The scheme will provide financial assistance to training institutes to set up new courses and upgrade existing ones. It will also provide scholarships to students who enroll in these courses.
The Vishwakarma Yojana is a welcome step, but it is only one part of the solution to the shortage of skilled manpower in the real estate sector. The government also needs to address the other factors that are contributing to the shortage, such as the poor working conditions in the construction sector.
Real estate developers play a key role in the real estate sector, and they have a responsibility to address the shortage of skilled manpower. Here are some specific actions that they can take:
Invest in training and upskilling their workforce. The builder fraternity should invest in training and upskilling their workforce to ensure that they have the skills that are needed to meet the demands of the sector. They can do this by partnering with educational institutions to develop training programs that meet the specific needs of the real estate sector. They should also provide financial assistance to their employees to help them pay for training.
Create better working conditions for construction workers. The builder fraternity should create better working conditions for construction workers to make the industry more attractive to them. This includes providing safe working conditions, paying fair wages, and offering benefits such as health insurance and retirement plans.
Promote the construction sector as a career option for young people. The builder fraternity should promote the construction sector as a career option for young people. This can be done by creating awareness about the opportunities that are available in the sector and by highlighting the benefits of a career in construction.
Read More: Real Estate: Average Rent In India Increases 4.9% QoQ, Rental Demand Up 18.1%, Says Report
In addition to these actions, the builder fraternity can also take some more practical steps to address the shortage of skilled manpower in the real estate sector. These include:
- Use technology to automate tasks. The builder fraternity can use technology to automate tasks that are currently performed by manual labor. This can help to reduce the need for unskilled workers and free up skilled workers to focus on more complex tasks.
- Embrace new technologies. The builder fraternity should embrace new technologies that can help to improve productivity and efficiency in the construction sector. This includes technologies such as 3D printing, drones, and robots.
- Partner with other industries. The builder fraternity can partner with other industries to share resources and expertise. This can help to address the shortage of skilled manpower more holistically.
Here are some additional thoughts on the way out and the action needed from the builder fraternity:
- Developers should work with educational institutions to develop training programs that are tailored to the specific needs of the real estate sector. These programs should be designed to provide students with the skills and knowledge that they need to succeed in the industry.
- Developers should also provide financial assistance to their employees to help them pay for training. This will make it more affordable for workers to upskill and stay ahead of the curve.
- Developers should create a more positive image of the construction industry to attract more young people into the workforce. This can be done by highlighting the opportunities that are available in the industry, the good pay and benefits that are offered, and the satisfaction that comes from building something from the ground up.
- Developers should also improve the working conditions in the construction industry to make it more attractive to workers. This includes providing safe working conditions, paying fair wages, and offering benefits such as health insurance and retirement plans.
By taking these steps, developers can help to address the shortage of skilled manpower in the real estate sector and ensure that the sector continues to grow and thrive.
